Business
Potential for Direct Ship Iron Ore
Potential for Direct Ship Iron Ore.
About this update from Alien Metals Ltd
[{"type":"text","content":"\n\n\n\n \nTrading Symbols\nAIM: UFO\nFWB: I3A1\n2 August 2023 \n \nAlien Metals Ltd\n(\"Alien\" or \"the Company\")\n \nPotential for Direct Ship Iron Ore identified at the Hancock Project\n \nAlien Metals Ltd (LSE AIM:UFO), a global minerals exploration and development company, is pleased to announce that its wholly-owned subsidiary Iron Ore Company of Australia Pty Ltd (IOCA) has completed initial investigations into the potential for Direct Ship Ore (DSO) at tenement E47/5001 (the Mallina Tenement) which adjoins the existing Hancock Project. \nHighlights\n· Historic high grade rock chip sample of greater than 60% Fe evidencing the significant potential for exploration upside on the tenement\n· The eastern area of the tenement shares a comparable geological setting as the Weeli Wolli (IOCA's Ridges C and E ore body) iron ore formations\n· Areas of the tenement share a comparable geological setting to the Boolgeeda (IOCA's Sirius Extension Deposit) iron ore formation\n· The Hancock Ridge H that has provided rock chip samples of greater than 60% Fe continues into the Mallina Tenement for several kilometres\nTroy Whittaker, Chief Executive Officer commented:\n\"The Mallina acquisition has not only provided security of access from the Company's flagship Hancock Project site to the Great Northern Highway, but it has also shown it may have the potential to significantly increas...